Due to Brexit uncertainties, bet365 moves operations from Gibraltar to Malta

[The Buzz]

bet365 says it is moving operations from Gibraltar to Malta, citing Brexit as a main reason. The €70 million move is likely to mean the relocation of 1,000 staff from the current offices.

From Spanish newspaper The Olive Press:

The expansion in Malta, where the betting company has been present for several years, was welcomed by Prime Minister of the territory, Joseph Muscat. Meanwhile, the Government of Gibraltar said in a statement that it was working ‘very constructively’ with Bet365.

“It is clear that the decisions announced by bet365 are directly related to Brexit and not to any matter otherwise related to Gibraltar,” the statement said.

The large-scale movement of staff from Gibraltar to Malta is expected to materialise once major headway has been made in the Brexit planning.

A statement of Bet365 said: “As part of our strategic and contingency plans to ensure EU market access and to maintain and enhance operational efficiencies, we have been building our presence in Malta and operating a dual regulatory and licensing strategy between Gibraltar and Malta for a number of years.

“However, from an operational and technical perspective and given our operating model, it has become increasingly challenging to efficiently run such multisite operations and this has necessarily resulted in us conducting a review of our operations.

“We also continue to operate in a highly uncertain environment, driven primarily by the continuing Brexit landscape."

Read more here: https://www.theolivepress.es/spain-n...-brexit-fears/

[drifter8]

Happy days for Malta. Lovely island, but over-crowded these days!!!

[fullbenefit]

Happy days for Malta. Lovely island, but over-crowded these days!!!

Exactly. JM is such an ass kisser when it comes to Igaming, selling passport and similar, he would sell anything to make a buck :/

[Pokerface]

Wow, where will these 1000 people live? Malta is a great place however already bursting at the seams. Don't recall too much available/new housing.

[CarmelS]

Haha our dear prime minister in a nutshell....

Exactly. JM is such an ass kisser when it comes to Igaming, selling passport and similar, he would sell anything to make a buck :/

[drifter8]

It wil be better to move those people to other places. Sofia, Bulgaria is a tech-hub full with lots of nice new buildings and plenty of opporutnities.

The taxes are not that low like in Malta, so for upcoming conferences we should take bikes or skates with us ))